Ningbo Tourism Development Fund Set up

The afternoon of January 26 saw the launch of Ningbo Tourism Development Fund. The fund shall be entrusted to Beida Jade Bird Group for operation. The No.1 component fund, totaling 300 million yuan, is jointly contributed by Ningbo Tourism Investment Company, Agricultural Bank of China, Huishenfeng Capital and the Ningbo Industrial Fund. As one of the four industrial funds operated on a pilot basis, the Tourism Development Fund is expected to give full play to the guiding role of financial capital, encourage the social capital to be involved in construction of major tourism projects and to provide financial support for quality enterprises. The first component fund, amounting to 300 million yuan, is planned to be invested in coming five years. The component funds are expected to reach 2 billion yuan. The Tourism Development Fund shall mainly support eight major investment fields, including development of tourism areas and countryside tourism programs that are above 3A level